[jasmig04]

1. Office supplies on hand at year end amounted to $ 420
2. The equipment costing $30,000 has an expected life of six years and no salvage value. Mike uses straight-line depreciation.
3. A premium of $ 1500 for a one year insurance policy was paid on November 1.
4. Wages earned by employees but not paid by year end amounted to $ 600.
Trial Balance
cash 2300
acc/rec 9400
supplies 6000
prepaid insurance 1500
equipement 30000
accumulated depreciation-equipment 5000
accounts payable 2100
wayes payable
Mikes Capital 17570
Mikes Drawing 1500
Service Fees 48200
Wages Expense 15100
Rent Expense 6210
Supplies Expense
Utility Expense 860
Insuranse Expense
Depreciation Expense Equipement

net total 72870 72870

Adjustments
cash
acc/rec
supplies 1) 5580
prepaid insurance 3) 250
equipement
accumulated depreciation-equipment 2) 5000
accounts payable
wayes payable 4) 600
Mikes Capital
Mikes Drawing
Service Fees
Wages Expense 4) 600
Rent Expense
Supplies Expense 1) 5580
Utility Expense
Insuranse Expense 3) 250
Depreciation Expense Equipement 2) 5000

total 11430 11430

This is where I need help my adjusted trial balance won't balance I don't know what Im doing wrong, this is what I have, maybe someone can help me fix it or explain to me what Im doing wrong I would really be thankful. Thanks

Adjusted Trial Balance

cash 2300
acc/rec 9400
supplies 420
prepaid insurance 1250
equipement 30000
accumulated depreciation-equipment 10000
accounts payable 21000
wayes payable 600
Mikes Capital 17570
Mikes Drawing 1500
Service Fees 48200
Wages Expense 14500
Rent Expense 6210
Supplies Expense 5580
Utility Expense 860
Insuranse Expense 250
Depreciation Expense Equipement 5000

my total don't total PLEASE HELP

[morgaine300]

Part of doing accounting is learning how to go back through and check things very carefully to find mistakes like this. If your trial balance comes out, and the adjusting entries come out, but the adjusted trial balances does not match, it must be in the math somewhere. i.e. debits & credits balancing is nothing but math. When you do the adjusted trial balance, you're doing nothing but copying and math. (i.e. you're not making entries or anything... just copying and math.) Therefore that's where the error has to be. You either copied a balance over wrong. Or you did math wrong. That's the only choices. And both of these types of errors can be found by looking carefully at everything.

Since you've done everything else correctly, I'm assuming you know how to do the adjusted trial balance. Therefore, with careful looking, you could have found these mistakes. But... you have to really look. i.e. don't assume anything. You'll start seeing what you think you're supposed to see instead of what's there. Especially if you're tired. Hopefully your real work is somewhere easier to read. (And keep in mind we can't tell what is debits & credits because there are no columns.)

There's two very glaring errors. Take another look at the wages expense and the accounts payable.

[Ronalyn_ML]

You should add your wages expense.

[pready]

This is an old post and should be closed.